Find jobs. Company reviews. Find salaries. Upload your resume. Sign in. Career Development. Reasons to get a raise. You have more responsibilities. You got a promotion. You have been with the company for a while.
How often should you ask for a raise? When to ask vs. Tips on asking for a raise. Wait for the right time. Apply for a promotion. Know your number. Make a compelling case. Show your value before asking. Use a positive tone.
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Your Practice. Popular Courses. Careers Career Advice. Table of Contents Expand. Average Pay Increases. Salaries Vary by City. The Effect of Job Switching. Other Forms of Compensation. The Bottom Line. Key Takeaways Have you been working in the same job for a while and think it's time for a raise? The size of a raise will vary greatly by one's experience with the company as well as the company's geographic location and industry sector.
Sometimes raises will include non-cash benefits and perks that are not figured into the percentage increase surveyed. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. When your company is successful, however, it's more likely to offer you a raise. Many employers base raises on the amount of responsibilities you've taken on. If you have new responsibilities you were either given or asked for, it's a testament to your work ethic and your ability to be a team player.
Your ability to add new responsibilities to your workload may be reason enough for an employer to increase your wages. When employers give you a raise, they're investing in your future. Because of this, your future with the company may play a significant role when it comes to your raise. For example, an employer may consider what your responsibilities may look like in the future and whether they'd like you to stay with the company for a significant amount of time.
If they foresee a future with you, they're more likely to not only offer you a raise, but offer you a substantial increase in wages. When you want a raise, it's important to ask at the right time. Timing your request can significantly impact whether you receive an increased salary. Here is when you should consider asking for a raise:. Though it's reasonable to ask for a raise that reflects your work ethic, it's important to follow certain approaches and best practices as it can result in a better outcome.
When you ask for a raise, you need to understand why you deserve a raise and how to properly negotiate one. Use these steps to help you negotiate a raise:. Before you start negotiations, consider the reason for your request. Look at your recent projects and assignments, moments when you exceeded expectations and any time that you added value to your company. Reflecting on this can help you use specific examples during your discussions with your manager.
Just as you should research average salaries in your profession before accepting a new position, it's also important to do your research regarding pay raises in your industry and occupation. Proper research lets you know if you're getting paid fairly and helps you decide on a concrete figure to present to your manager when you negotiate your salary.
Make sure to research the average salary for people in your position and industry with the same level of experience. Then, come up with a figure to give your manager when they ask.
You can also use various online websites that take into account your job title, geographic location and experience level when determining a reasonable raise.
Consider what you want to say to your manager when you ask for a raise. Have a convincing narrative that highlights your specific accomplishments in the workplace. Make sure that it's organized and serves as a sales pitch.
Keep your presentation conversational and prepare for questions or counterarguments. When it comes to asking for a raise, it's important to find the right time to start negotiations. Keep in mind certain factors such as how long you've been at the company and the company's current success. Asking during an appropriate time can help you better negotiate a raise. Related: How to Negotiate a Raise in 7 Steps.
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